just talked to a mate of mine who works on the retail/private bank FX desk at a major institution. Quoted it to me at around 11% or about 22K. Figuring they add about a half a percent markup. Obviously a bit cheaper (bout 3K) if you do an option on the ATM fwd. Assuming if this person has 200K to invest in real estate has enought to open an account at a real bank.
Is this really a reasonable assumption? Ballpark, how much would it take a retail client to open an account at your friend's firm? 500k? 1 mil? Given the real estate craze, I would definitely be surprised if a person with 200k in real estate investment had 500k or 1 mil to invest at a private bank. No offense to the OP.
You would be surprised. Just need to have a brokerage account (with an actual broker) at at one of the wirehouses (ideally one tied to one of the money centers) With over a hundred K they are prb willing going to work with you. Hearing a lot of broker out there actually trying to do soley FX..makes sense juicy and more importantly hidden markups..in a market that requires frequent trading